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Marc Garbell's Advice

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  • 28 Contributions
  • 0 Best Answers
  • 102 Helpful

Marc Garbell wrote:

Buying now in CA

Response
I agree, the more current the comps the better...still, ask for 2-3 months to see if there has been any stabilization in prices...and yes, a realtor should be able to show you the comps with all the applicable criteria. I know this is a huge commitment/investment so try not to get emotionally involved when making lower offers, I’ve found that sellers have not been as flexible as you would expect. You might have to make several offers before you get the deal you’re looking for. Best of luck!
February 18 2008
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Buying now in CA

Response
g6t60,You definitely can buy a home for 10-15% off of the listing price, especially in Stockton. What’s more important is to buy under the comps (do not use comps older than 2-3 months tops) in the neighborhood. If you buy a home for 15% off of a listing price that is 15% overpriced, what’s the point. Then again if a listing is priced 15% below the comps and your able to get, lets say an additional 5% off of the listing price, your in a much better position. What I’m seeing, and I’m in a much healthier area or CA than Stockton, is homes that are priced below market are actually getting multiple offers on them and even selling above the list price.
February 18 2008
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realistic offer

Response
Jai74I don’t have any extraordinary insight into how market pricing works, what I do have is a good pulse on the real estate market in my specific area. In regards to my advice to the original poster, its good advice. Not that you addressed that comment…It’s just I’m getting a headache from all this back and forth.On another note. Hope your having some fun on that business trip. Much success.
February 16 2008
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skill sets of the well balanced, successful agents?

Response
There is not a correct answer. With someone like myself, not a big listing agent, I would argue that I would service the listing better and my marketing would be superior and specific to your property. The advantage that the big listing agent has is that if a buyer calls about one of their listings and that listing does not work out, they can offer one of their other listings to show. They also often have more clout to get price reductions if needed…It usually comes down to price. Don’t over think it. Interview 3-4 agents and then go with your gut.
February 15 2008
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realistic offer

Response
“has an incentive get people to buy houses”Sure we like to make a living. But let me tell you, if I tried to convince a buyer to purchase and they didn’t want to, I would lose that buyer and when they were ready to purchase, they wouldn‘t be calling me…I would and many agents just like me are there to inform our clients and make them aware of the current market in the specific areas that we service. I have clients that want to buy now and others that I’ve been working with of years, with the hope that one day they will turn to me to assist them. Also, we do have a special insight to the areas that we specialize in. We see what’s happening in real time and don’t have to wait for a report to come out. Unfortunately, you just don’t understand the value of a good agent.
February 15 2008
(1)

realistic offer

Response
While the zestimate is accurate on occasion, I would not rely on it. And while some real estate agents are unscrupulous, most are honest hard working people who do look out for their client’s best interest. Although, I’m sure all the agent haters on this board will disagree.
February 15 2008
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Would you do it?

Response
Rent to own rarely works out and renting can be a pain. If you do rent, I suggest have a reputable property management company qualify the tenant and manage the property. The costs of the management co should be about 6-10% depending on the rental price and will take some of the hassle of being a landlord.
February 15 2008
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realistic offer

Response
Get current comps for similar homes in the area…no more than 2-3 months old. I’d say start by offering 10-15% under the current comps and don’t pay anymore than 5-10% under the current comps. Definitely consult with a real estate agent who specializes in the area before doing anything.
February 15 2008
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Is it a good time to sell?

Response
Nance2777,It's not only your credit score but how much equity you have in your home. If there is no equity in your home it doesn't matter how good or bad your credit is. Be aware that most banks are appraising properties at 5% below the current comps. Feel free to contact me and I might be able to refer you to someone that can help you.
February 15 2008
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skill sets of the well balanced, successful agents?

Response
I’m sure you’ve heard the saying, 20% of the Agents get 80% of all the business. It’s true because success breads success. It doesn’t necessarily mean that the high producing agent, listing or selling, is going to do better job for you or yield better results. An agent who in not carrying a huge inventory of listings is probably going to be able to service you better, you won’t just be another listing.
February 15 2008
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